U.S.- and India-focused venture capital fund manager Inventus Capital has reportedly reached a first close for its third fund with INR2 billion (approximately US$29 million) in capital commitments. The fund, which is targeting INR3.25 billion (approximately US$47 million) in total commitments, will make Series A investments in India-based technology companies with a special focus on machine learning and artificial intelligence applications for health care and sales management.